New Senegalese leader to renegotiate oil and gas contracts with bp, Kosmos, Woodside

I am sure he wants to do that and I am also sure that there is some to be improved upon (assuming things) but this leader seems not to understand what he is really doing here. Oil companies just got interested in Senegal. It’s one of the higher potentials for new discoveries. Still, exploration is an expensive and risky business so big oil companies are pretty picky with what they engage. This is not going to give them the thrills and all others are watching. If Senegal wants to become an oil-exporting nation, this was a bad call. But if this leader wants to spare his nation the oil curse, then this is just genius. Don’t hold your breath on Senegal. This is a big wrench in the cogs.

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